531 Bloomfield Ave - Apartments FOR SALE


Newark, NJ 07107- Upper Roseville
$1,250,000 USD
973-464-1066
531 Bloomfield Ave, Newark, NJ for Sale
$1,250,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

531 Bloomfield Ave
Newark, NJ 07107
Upper Roseville


HIGHLIGHTS

  • Five-Story Building near Branch Brook Park
  • Approved for nine 2-bedroom apartments and one commercial office
  • Great location: North Newark at the Belleville border
  • Roof-top deck area
  • Tenant storage areas in basement
  • Commercial Office on 1st floor facing Bloomfield Ave

OVERVIEW

Great north Newark location at the Belleville border near Branch Brook Park. The current owners have an approved variance from the City of Newark to construct a five-story mixed-use building. The existing apartment building will need to be demolished to make way for approved new 5-story mixed-use building. There would be a first floor office facing Bloomfield Ave and the entrance for the 9 apartment units would face N 11th St. The plans include commercial space fronting Bloomfield Avenue and one apartment on North 11th Street on the first floor, with two apartments per floor on floors two through five (see attached plans & renderings).

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

9

PRICE/UNIT

$138,889

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

North Newark at Belleville Border

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

C-2

APN/PARCEL ID

14-00655-0000-00024

ASK ABOUT THIS PROPERTY

Donn McDonaldColdwell Banker Commercial NRTMore Info
973-464-1066

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Donn McDonaldColdwell Banker Commercial NRTMore Info
973-464-1066

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.